Brazil's industrial output contracted 0.2 percent in September, the fifth consecutive monthly decrease for the country according to the National Statistics Agency. Annual output in Brazil grew at the slowest pace all year, rising only 6.3 percent from the comparable period a year ago.
Output decline is likely due to the fact that the real, Brazil's national currency, touched a two-year high of 1.6 reais per US dollar three weeks ago.
Production of capital goods took a hit September, falling 2.6 percent from August, while production of electronic and communication equipment dipped 11 percent, vehicle output fell 0.9 percent and metals output including steel dropped 2 percent.